April 1 — More than 500 loud and angry workers marched at the federal bankruptcy court in Detroit to voice their objections to the planned slashing of City retirees’ pensions by 34 percent along with other draconian cuts. The demonstration was called by the Moratorium NOW! Coalition and Stop Theft of Our Pensions Committee. Workers, active and retired, came out from the American Federation of State, County and Municipal Employees, United Auto Workers, Communication Workers, and many other unions, along with city residents and community activists. Objections to the emergency manager’s austerity plans and giveaways to the banks in the city of Detroit bankruptcy were delivered to the court. “Shut it down!” was the resounding declaration of many speakers whose organizations are planning a boycott and all-day protest event on May Day.

ISDA Master Agreement

The ISDA master agreement is the most commonly used master contract for OTC derivative transactions internationally. It is used to govern many of the financial transactions between the City of Detroit and Wall Street. Below are links to the agreement and sites with explanations.